Synovus Financial Corp Decreases Position in STAG Industrial, Inc. (NYSE:STAG)

Synovus Financial Corp lowered its stake in STAG Industrial, Inc. (NYSE:STAG) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,318 shares of the real estate investment trust’s stock after selling 326 shares during the quarter. Synovus Financial Corp’s holdings in STAG Industrial were worth $833,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in shares of STAG Industrial by 145.5% in the third quarter. FMR LLC now owns 6,936,107 shares of the real estate investment trust’s stock worth $271,132,000 after acquiring an additional 4,111,268 shares in the last quarter. Earnest Partners LLC raised its position in shares of STAG Industrial by 2.2% in the 2nd quarter. Earnest Partners LLC now owns 3,652,984 shares of the real estate investment trust’s stock valued at $131,727,000 after purchasing an additional 78,189 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of STAG Industrial by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,403,540 shares of the real estate investment trust’s stock valued at $133,077,000 after buying an additional 21,925 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of STAG Industrial by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,169,164 shares of the real estate investment trust’s stock worth $123,883,000 after buying an additional 227,629 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of STAG Industrial by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,865,673 shares of the real estate investment trust’s stock worth $103,333,000 after buying an additional 167,532 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays decreased their price objective on shares of STAG Industrial from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company decreased their price target on STAG Industrial from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Raymond James upped their price objective on STAG Industrial from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Evercore ISI boosted their price target on STAG Industrial from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, STAG Industrial currently has an average rating of “Hold” and an average target price of $41.00.

STAG Industrial Price Performance

Shares of STAG opened at $35.81 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $6.53 billion, a P/E ratio of 36.17 and a beta of 1.07. STAG Industrial, Inc. has a 12 month low of $34.09 and a 12 month high of $41.63. The stock has a fifty day moving average price of $36.98 and a 200 day moving average price of $37.77.

STAG Industrial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.1233 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.13%. STAG Industrial’s dividend payout ratio (DPR) is presently 149.49%.

About STAG Industrial

We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States. Our platform is designed to (i) identify properties for acquisition that offer relative value across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants through the principled application of our proprietary risk assessment model, (ii) provide growth through sophisticated industrial operation and an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.